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Latham Advises PAI Partners on Its Majority Investment in ECF Group

June 14, 2023
Paris team represents the pre-eminent private equity firm in the transaction.

Latham & Watkins has advised PAI Partners, a pre-eminent private equity firm, on its majority investment in ECF Group Equity, a leading business-to-business distributor of equipment and consumables for hospitality and care professionals, alongside the reinvestment by Naxicap Partners (former sponsor) and the management team.

ECF employs over 1,750 employees, and manages 40 logistics centres, with annual revenues of approximately €760 million. With PAI’s support, ECF will look to further accelerate its growth, both organically and through acquisitions, in what is a highly fragmented market. This strategy will enhance the group’s product offering and deepen its presence in new and existing markets. The proposed transaction, which is subject to the fulfillment of customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed in the course of 2023.

The Latham team was led from Paris by corporate partner Denis Criton, with counsel Bénédicte Large Bremond, and associates Pauline le Faou, Claudia Reix, and Océane Loureiro. Advice was also provided on tax aspects by partner Xavier Renard and associate Clémence Morel; on finance aspects by partner Carla-Sophie Imperadeiro, counsel Aurélie Buchinet, and associate Natacha Enoh; on employment law aspects by partner Matthias Rubner with associate Cosma Scutiero; on IP aspects by partner Jean-Luc Juhan, with associate Daniel Martel; and on compliance, litigation, and data privacy aspects by partner Myria Saarinen, with counsel Elise Auvray, and associates Andra-Cristina Tihauan and Hana Ladhari.